According to Zacks, “China Telecom Corporation is a state-owned telecommunications company in China. They operate local telephone networks in ten provinces in China. They operate domestic and international fixed-line networks and infrastructure including wireless local loop, as well as telecom network-based voice, data, video, multimedia and information services. They are also engaged in international telecom service settlement and expand into overseas markets. “
A number of other research analysts have also recently weighed in on the stock. Citigroup raised shares of China Telecom from a “neutral” rating to a “buy” rating in a research report on Wednesday, October 16th. UBS Group raised shares of China Telecom from a “neutral” rating to a “buy” rating in a research report on Thursday, September 26th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and three have given a buy rating to the stock. The company presently has an average rating of “Hold” and an average price target of $57.95.
A number of large investors have recently added to or reduced their stakes in the business. Aperio Group LLC boosted its position in shares of China Telecom by 15.0% in the second quarter. Aperio Group LLC now owns 681,879 shares of the utilities provider’s stock worth $34,114,000 after buying an additional 88,931 shares during the period. Acadian Asset Management LLC boosted its holdings in China Telecom by 23.6% in the 2nd quarter. Acadian Asset Management LLC now owns 69,906 shares of the utilities provider’s stock worth $3,495,000 after acquiring an additional 13,331 shares during the period. Parametric Portfolio Associates LLC boosted its holdings in China Telecom by 3.4% in the 2nd quarter. Parametric Portfolio Associates LLC now owns 68,613 shares of the utilities provider’s stock worth $3,433,000 after acquiring an additional 2,225 shares during the period. Northern Trust Corp grew its position in China Telecom by 1.1% in the second quarter. Northern Trust Corp now owns 48,561 shares of the utilities provider’s stock valued at $2,429,000 after acquiring an additional 508 shares in the last quarter. Finally, Jane Street Group LLC acquired a new stake in China Telecom in the second quarter valued at approximately $2,345,000. 0.50% of the stock is currently owned by institutional investors.
China Telecom Company Profile
China Telecom Corporation Limited, together with its subsidiaries, provides wireline and mobile telecommunications services primarily in the People's Republic of China. It offers wireline voice services, including local wireline telephone services and long distance wireline services; CDMA mobile voice services, such as local calls, domestic and international long distance calls, intra-provincial roaming, and inter-provincial roaming and international roaming; wireline Internet access services comprising dial-up and broadband services; wireless Internet access services; and wireline, Internet, and mobile value-added services.
Further Reading: Hedge Funds
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for China Telecom Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for China Telecom and related companies with MarketBeat.com's FREE daily email newsletter.